ThinkEquity Begins Coverage on BioVie (NASDAQ:BIVI)

ThinkEquity assumed coverage on shares of BioVie (NASDAQ:BIVI) in a research report sent to investors on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $3.00 price target on the stock.

BioVie Trading Up 2.8 %

Shares of NASDAQ BIVI opened at $0.42 on Monday. BioVie has a 12 month low of $0.40 and a 12 month high of $5.82. The stock has a 50 day moving average of $0.47 and a 200-day moving average of $0.78. The company has a market capitalization of $25.43 million, a P/E ratio of -0.44 and a beta of 0.74.

BioVie (NASDAQ:BIVI) last issued its earnings results on Tuesday, May 14th. The company reported ($0.20) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioVie stock. Sheaff Brock Investment Advisors LLC raised its position in BioVie Inc. (NASDAQ:BIVI) by 276.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,400 shares of the company’s stock after buying an additional 37,762 shares during the quarter. Sheaff Brock Investment Advisors LLC owned 0.13% of BioVie worth $27,000 at the end of the most recent reporting period. 4.59% of the stock is owned by institutional investors and hedge funds.

About BioVie

BioVie Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of chronic debilitating conditions in the United States. Its products pipeline includes BIV201, which completed Phase IIa clinical trial for the treatment of ascites caused due to chronic liver cirrhosis; and NE3107, a potentially selective inhibitor of inflammatory extracellular single-regulated kinase, which is in Phase III clinical trial for the treatment of patients with mild to moderate Alzheimer's disease, as well as Phase 2 clinical trial for the treatment of Parkinson's disease.